VO vs. AVUV

Last updated Jun 14, 2026

VO (Vanguard Mid-Cap ETF) and AVUV (Avantis US Small Cap Value ETF) are both exchange-traded funds - VO is a Mid Cap Blend Equities fund tracking the CRSP US Mid Cap Index, while AVUV is a Small Cap Value Equities fund actively managed by Avantis. VO is passively managed, while AVUV is actively managed. Over the past 5 years, VO returned 7.79%/yr vs 11.57%/yr for AVUV. Their correlation of 0.84 suggests significant overlap in exposure. VO charges 0.03%/yr vs 0.25%/yr for AVUV.

Performance

VO vs. AVUV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Mid-Cap ETF (VO) and Avantis US Small Cap Value ETF (AVUV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VO achieves a 10.43% return, which is significantly lower than AVUV's 22.73% return.

VO

• 1D: 0.97%
• 1M: 2.97%
• YTD: 10.43%
• 6M: 9.31%
• 1Y: 19.60%
• 3Y*: 15.74%
• 5Y*: 7.79%
• 10Y*: 11.77%

AVUV

• 1D: 0.96%
• 1M: 5.11%
• YTD: 22.73%
• 6M: 19.51%
• 1Y: 42.12%
• 3Y*: 19.24%
• 5Y*: 11.57%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

VO vs. AVUV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
VO Vanguard Mid-Cap ETF	10.43%	11.62%	15.31%	16.03%	-18.73%	24.70%	18.10%	6.47%
AVUV Avantis US Small Cap Value ETF	22.73%	7.44%	9.28%	22.82%	-4.91%	42.20%	6.43%	8.54%

Correlation

The correlation between VO and AVUV is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (All Time) Calculated using the full available price history since Sep 26, 2019	0.84

The correlation between VO and AVUV has been stable across timeframes, ranging from 0.83 to 0.85 - a consistent structural relationship.

VO vs. AVUV - Sectors Allocation Comparison

Sectors	VO	AVUV
Technology	18.6%	7.4%
Industrials	17.9%	13.6%
Financial Services	12.8%	26.1%
Consumer Cyclical	8.6%	18.7%
Energy	8.5%	15.8%
Utilities	8.3%	0.1%
Healthcare	7.6%	4.8%
Real Estate	5.4%	0.7%
Consumer Defensive	4.8%	4.7%
Basic Materials	4.2%	5.1%
Communication Services	3.1%	3.1%

Return for Risk

VO vs. AVUV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VO

VO Risk / Return Rank: 49
VO Sharpe Ratio Rank: 47
VO Sortino Ratio Rank: 46
VO Omega Ratio Rank: 44
VO Calmar Ratio Rank: 51
VO Martin Ratio Rank: 55

AVUV

AVUV Risk / Return Rank: 84
AVUV Sharpe Ratio Rank: 83
AVUV Sortino Ratio Rank: 84
AVUV Omega Ratio Rank: 77
AVUV Calmar Ratio Rank: 91
AVUV Martin Ratio Rank: 85

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VO vs. AVUV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Mid-Cap ETF (VO) and Avantis US Small Cap Value ETF (AVUV). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	VO	AVUV	Difference
Sharpe ratio: Return per unit of total volatility	1.43	2.28	-0.85
Sortino ratio: Return per unit of downside risk	2.05	3.24	-1.19
Omega ratio: Gain probability vs. loss probability	1.25	1.39	-0.14
Calmar ratio: Return relative to maximum drawdown	2.23	5.06	-2.83
Martin ratio: Return relative to average drawdown	8.44	15.09	-6.65

VO vs. AVUV - Sharpe Ratio Comparison

The current VO Sharpe Ratio is 1.43, which is lower than the AVUV Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of VO and AVUV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VO vs. AVUV - Drawdown Comparison

The maximum VO drawdown since its inception was -58.87%, which is greater than AVUV's maximum drawdown of -49.42%. Use the drawdown chart below to compare losses from any high point for VO and AVUV.

Drawdown Indicators

	VO	AVUV	Difference
Max Drawdown Largest peak-to-trough decline	-58.87%	-49.42%	-9.45%
Max Drawdown (1Y) Largest decline over 1 year	-8.17%	-7.95%	-0.22%
Max Drawdown (3Y) Largest decline over 3 years	-19.02%	-28.79%	+9.77%
Max Drawdown (5Y) Largest decline over 5 years	-27.57%	-28.79%	+1.22%
Max Drawdown (10Y) Largest decline over 10 years	-39.37%	—	—
Current Drawdown Current decline from peak	-0.45%	0.00%	-0.45%
Average Drawdown Average peak-to-trough decline	-7.85%	-7.91%	+0.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.16%	2.67%	-0.51%

Volatility

VO vs. AVUV - Volatility Comparison

Vanguard Mid-Cap ETF (VO) and Avantis US Small Cap Value ETF (AVUV) have volatilities of 4.31% and 4.53%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VO	AVUV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.31%	4.53%	-0.22%
Volatility (6M) Calculated over the trailing 6-month period	9.71%	11.34%	-1.63%
Volatility (1Y) Calculated over the trailing 1-year period	12.74%	17.63%	-4.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.65%	22.75%	-5.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.96%	28.26%	-9.30%

VO vs. AVUV - Expense Ratio Comparison

VO has a 0.03% expense ratio, which is lower than AVUV's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VO vs. AVUV - Dividend Comparison

VO's dividend yield for the trailing twelve months is around 1.36%, less than AVUV's 1.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVUV Avantis US Small Cap Value ETF	1.61%	1.58%	1.61%	1.65%	1.74%	1.28%	1.21%	0.38%	0.00%	0.00%	0.00%	0.00%
VO Vanguard Mid-Cap ETF	1.36%	1.52%	1.49%	1.52%	1.60%	1.12%	1.45%	1.48%	1.82%	1.35%	1.45%	1.47%

Frequently Asked Questions

Can I hold both VO and AVUV in my portfolio?

VO and AVUV have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VO or AVUV?

AVUV has higher volatility (4.53%) compared to VO (4.31%). In terms of maximum drawdown, VO dropped -58.87% vs AVUV's -49.42%.

Which ETF is better, VO or AVUV?

On 5-year performance, AVUV leads with 11.57% vs 7.79% for VO. On fees, VO is cheaper at 0.03% per year. On volatility, VO has been the lower-risk option at 4.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VO or AVUV?

Over the 5-year period, AVUV has performed better with a 11.57% return vs 7.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VO or AVUV?

VO is cheaper with a 0.03% expense ratio, compared with 0.25% for AVUV.

Which ETF pays a higher dividend yield, VO or AVUV?

AVUV has the higher dividend yield at 1.61%, compared with 1.36% for VO.

What is the main difference between VO and AVUV?

VO is categorized as Mid Cap Blend Equities, while AVUV is Small Cap Value Equities. They also come from different issuers: Vanguard and Avantis. Their fees differ too: 0.03% for VO and 0.25% for AVUV.

Which has better risk-adjusted returns?

AVUV currently has the higher Sharpe Ratio (2.28 vs 1.43), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.